30 Jul BANK ON IT: HOW FUTURE OF INUSRETECH SPEAKERS SEE THE FIELD EVOLVING
Turning to the best future of insuretech speakers and insurance futurists, we find that many new technology trends and future innovations are transforming the field. And why not? Given how much of it revolves around data, finance, and risk management, it only makes sense, or so the pros tell us. Noting this, we should probably point out that we frequently stand in as future of insuretech speakers and insurance futurists ourselves. This being the case, let’s talk about some new items of note that are prompting shifts in the sector as we talk.
- Digital insurance platforms – Online insurance shopping, comparisons, policy purchasing, and claims management. Think PolicyGenius, Lemonade.
- Data analytics – Using data and AI to price policies, assess claims, and predict risk more accurately. Helps insurers be more targeted.
- On-demand/usage-based insurance – Policies priced dynamically based on real-time data tracking asset usage. Often mobile app based according to the best future of insuretech speakers and insurance futurists.
- Peer-to-peer insurance – Platforms that allow groups to pool risk and insure each other without an insurance company intermediary.
- Telematics – Use of sensors and connectivity to monitor driver behavior and base auto insurance rates on actual driving data.
- Precision underwriting – Using advanced data like genetics, lifestyle data, IoT to precisely evaluate individuals instead of demographics.
- Automated claims – AI chatbots and automated claims management to speed up processing and provide 24/7 customer support. A big trend taking place now as future of insuretech speakers and insurance futurists put it.
- Insurance marketplaces – Online platforms for business clients to easily compare and purchase commercial insurance plans.
- Fraud prevention – AI and machine learning to detect fraudulent claims by recognizing patterns of suspicious activity.
- Customer engagement – Apps, wearables and wellness programs that incentivize healthy habits through dynamic insurance pricing and rewards.
All of this being said, if you were to turn to future of insuretech speakers and insurance futurists, they’d tell you that insurtech applies emerging technologies like AI, IoT, and big data analytics to various aspects of the insurance process – underwriting, pricing, distribution, claims, etc. – to enhance efficiency, personalization and engagement.